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Update on the Mobilization of Loan Resources for PRGT Lending, Proposed Amendment to the PRGT Instrument, and Floor for the Six-Month Derived SDR Interest Rate
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Year: 2016 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

A Board-endorsed effort to raise SDR 11 billion in new Poverty Reduction and Growth Trust (PRGT) loan resources needed to sustain the Fund's concessional lending operations is well underway. Staff is now engaging with 16 interested loan providers bilaterally with a view to having firm pledges in line with the target by the 2016 Annual Meetings and a critical mass of new loan agreements in place by end-2016. To date, committed new loan resources amount to half of the SDR 11 billion fundraising target.


Book
Exploring practical experience of Nationally Appropriate Mitigation Actions (NAMAs) and Measurement, Reporting and Verification (MRV) requirements : Report from the side event at the COP18 in Doha, Qatar on 3.12.2012
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Year: 2013 Publisher: Copenhagen : Nordic Council of Ministers,

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NOAK and NEFCO organised a side event on NAMAs and MRV requirements during the UN climate conference at COP18 in Doha, Qatar on 3.12.2012. There are different opinions on what the minimum requirements on MRV systems for NAMAs should be and what the role of the UNFCCC would be in this regard. Issues have also been raised on whether there should be a differentiation in the MRV system between the different types of NAMAs. The aim of the side event was to explore practical experience on the issue, both from on-going initiatives and from the donors. This report first presents briefly the key concepts NAMA and MRV, then discusses each presentation and finally draws a summary on the observations and lessons emerging from the side event.


Book
United Kingdom : Financial Sector Assessment Program-Systemic Stress, and Climate-Related Financial Risks: Implications for Balance Sheet Resilience
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Year: 2022 Publisher: Washington, D.C. : International Monetary Fund,

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The FSAP started in an important macro-financial phase right after the second Covid wave and a third lockdown. The balance sheet resilience of major institutional sectors was at the center of policy considerations. Against this backdrop, the FSAP analyzed the pandemic's potential "scarring" of banks, insurers, corporates, and households balance sheets, focusing on the interplay of macro-financial/structural conditions and financial vulnerabilities.


Book
Economic Principles for Integrating Adaptation to Climate Change into Fiscal Policy
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Year: 2022 Publisher: Washington, D.C. : International Monetary Fund,

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Adaptation to climate change is a necessity for advanced and developing economies alike. Policymakers face the challenge of facilitating this transition. This Note argues that adaptation to climate change should be part of a holistic development strategy involving both private and public sector responses. Governments can prioritize public investment in adaptation programs with positive externalities, address market imperfections and policies that make private adaptation inefficient, and mobilize revenues for, and distribute the benefits of, adaptation. Although the choice of what should be done and at what cost ultimately depends on each society's preferences, economic theory provides a useful framework to maximize the impact of public spending. Cost-benefit analysis, complemented by the analysis of distributional effects, can be used to prioritize adaptation programs as well as all other development programs to promote an efficient and just transition to a changed climate. While compensations may be needed to offset damages that are either impossible or too expensive to abate, subsidies for adaptation require careful calibration to prevent excessive risk taking.


Book
Economic and Environmental Benefits from International Cooperation on Climate Policies
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Year: 2022 Publisher: Washington, D.C. : International Monetary Fund,

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This paper discusses and analyzes various international mechanisms to scale up global action on climate mitigation and address the policy gap in this area. Despite the new commitments made at COP 26, there is still an ambition and a policy gap at the global level to keep temperature increases below the 2°C agreed in Paris. Avoiding the worst outcomes of climate change requires an urgent scaling up of climate policies. Recent policy proposals include the idea of common minimum carbon prices, which underlie the IMF's international carbon price proposal (Parry, Black, and Roaf 2021) and the climate club proposal of the German government. While global carbon prices are not a new idea, the new elements are the use of carbon price floors-which allow countries to do more if they wish-and the differentiation of carbon price floors by level of development. In the absence of international coordination, countries with ambitious climate policies are considering introducing a border carbon adjustment mechanism to prevent domestic producers from being at a competitive disadvantage due to more ambitious domestic climate policies. An interesting question from the global perspective is whether border carbon adjustment would deliver substantial additional emissions reductions or incentivize other countries to join a carbon price floor agreement.


Book
Controverses climat et Anthropocène : Enjeux démocratiques du dialogue sciences-société
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Year: 2023 Publisher: Paris : Éditions Matériologiques,

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À rebours des idées reçues, cet ouvrage développe une analyse de la circulation des controverses climat et Anthropocène dans les espaces publics et ceux, plus spécifiques, de la science. Dans un contexte de crise écologique, démocratique, économique et, plus récemment, sanitaire avec la COVID-19, comment prendre des décisions politiques en s'appuyant sur des savoirs intrinsèquement soumis à des incertitudes, des controverses et des zones d'ignorance ? L'urgence de l'action tend à simplifier les débats au détriment de l'extraordinaire complexité des savoirs. Un constat : les citoyen.nes peuvent difficilement se forger un avis éclairé tant la complexité des débats contradictoires est réduite à leur plus simple expression, la caricature. Comprendre les controverses depuis l'espace public revient à se mettre dans la peau d'un extraterrestre arrivant sur Terre observant une compression de César et cherchant à comprendre le fonctionnement de cet objet présenté comme une voiture. S'affranchissant des frontières disciplinaires et des controverses internes aux sciences, cet ouvrage propose une plongée dans la complexité des controverses passées et actuelles en s'appuyant sur fouille minutieuse des savoirs. Il propose notamment une radioscopie de la crise climatosceptique autour de 2010. Ce livre déconstruit tout autant l'extraordinaire plasticité du concept d'Anthropocène. In fine, l'auteur défend l'idée de remettre la complexité au cœur des enjeux démocratiques du dialogue sciences-société.


Book
Economic and Environmental Benefits from International Cooperation on Climate Policies
Authors: --- ---
ISBN: 9798400205651 Year: 2022 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

This paper discusses and analyzes various international mechanisms to scale up global action on climate mitigation and address the policy gap in this area. Despite the new commitments made at COP 26, there is still an ambition and a policy gap at the global level to keep temperature increases below the 2°C agreed in Paris. Avoiding the worst outcomes of climate change requires an urgent scaling up of climate policies. Recent policy proposals include the idea of common minimum carbon prices, which underlie the IMF's international carbon price proposal (Parry, Black, and Roaf 2021) and the climate club proposal of the German government. While global carbon prices are not a new idea, the new elements are the use of carbon price floors-which allow countries to do more if they wish-and the differentiation of carbon price floors by level of development. In the absence of international coordination, countries with ambitious climate policies are considering introducing a border carbon adjustment mechanism to prevent domestic producers from being at a competitive disadvantage due to more ambitious domestic climate policies. An interesting question from the global perspective is whether border carbon adjustment would deliver substantial additional emissions reductions or incentivize other countries to join a carbon price floor agreement.


Book
Economic Principles for Integrating Adaptation to Climate Change into Fiscal Policy
Authors: ---
ISBN: 1513592661 Year: 2022 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

Adaptation to climate change is a necessity for advanced and developing economies alike. Policymakers face the challenge of facilitating this transition. This Note argues that adaptation to climate change should be part of a holistic development strategy involving both private and public sector responses. Governments can prioritize public investment in adaptation programs with positive externalities, address market imperfections and policies that make private adaptation inefficient, and mobilize revenues for, and distribute the benefits of, adaptation. Although the choice of what should be done and at what cost ultimately depends on each society's preferences, economic theory provides a useful framework to maximize the impact of public spending. Cost-benefit analysis, complemented by the analysis of distributional effects, can be used to prioritize adaptation programs as well as all other development programs to promote an efficient and just transition to a changed climate. While compensations may be needed to offset damages that are either impossible or too expensive to abate, subsidies for adaptation require careful calibration to prevent excessive risk taking.


Book
Update on the Mobilization of Loan Resources for PRGT Lending, Proposed Amendment to the PRGT Instrument, and Floor for the Six-Month Derived SDR Interest Rate
Author:
ISBN: 149838580X Year: 2016 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

A Board-endorsed effort to raise SDR 11 billion in new Poverty Reduction and Growth Trust (PRGT) loan resources needed to sustain the Fund's concessional lending operations is well underway. Staff is now engaging with 16 interested loan providers bilaterally with a view to having firm pledges in line with the target by the 2016 Annual Meetings and a critical mass of new loan agreements in place by end-2016. To date, committed new loan resources amount to half of the SDR 11 billion fundraising target.


Book
United Kingdom : Financial Sector Assessment Program-Systemic Stress, and Climate-Related Financial Risks: Implications for Balance Sheet Resilience
Author:
ISBN: 9798400207181 Year: 2022 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

The FSAP started in an important macro-financial phase right after the second Covid wave and a third lockdown. The balance sheet resilience of major institutional sectors was at the center of policy considerations. Against this backdrop, the FSAP analyzed the pandemic's potential "scarring" of banks, insurers, corporates, and households balance sheets, focusing on the interplay of macro-financial/structural conditions and financial vulnerabilities.

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